UNITED STATES BANKRUPTCY COURT

In re: Case No. 16-24660

Debtor(s)

NORTHERN DISTRICT OF ILLINOIS

EASTERN DIVISION

TRUSTEE'S FINAL REPORT (TFR)

LI, JOHN T. §

§

§

§

The undersigned trustee hereby makes this Final Report and states as follows:

1. A petition under Chapter 7 of the United States Bankruptcy Code was filed on 08/01/2016. The

undersigned trustee was appointed on 08/01/2016.

2. The trustee faithfully and properly fulfilled the duties enumerated in 11 U.S.C. §704.

3. All scheduled and known assets of the estate have been reduced to cash, released to the debtor as

exempt property pursuant to 11 U.S.C. § 522, or have been or will be abandoned pursuant to 11 U.S.C. § 554.

An individual estate property record and report showing the disposition of all property of the estate is attached

as Exhibit A.

0.00

780.71

4. The trustee realized the gross receipts of

Funds were disbursed in the following amounts:

Payments made under an

 interim distribution

Administrative expenses

Other payments to creditors

Non-estate funds paid to 3rd Parties

Exemptions paid to the debtor

Other payments to the debtor

Leaving a balance on hand of1

The remaining funds are available for distribution.

1The balance of funds on hand in the estate may continue to earn interest until disbursed. The interest earned prior to

disbursement will be distributed pro rata to creditors within each priority category. The trustee may receive additional

compensation not to exceed the maximum compensation set forth under 11 U.S.C. § 326(a) on account of the disbursement

of the additional interest.

0.00

0.00

0.00

0.00

18,977.08

Bank service fees 242.21

$

$

20,000.00

UST Form 101-7-TFR (5/1/2011)

Case 16-24660 Doc 32 Filed 07/13/18 Entered 07/13/18 11:53:23 Desc Main

 Document Page 1 of 13
6. The deadline for filing non-governmental claims in this case was 12/20/2017 and the deadline for filing

governmental claims was 12/20/2017. All claims of each class which will receive a distribution have been

examined and any objections to the allowance of claims have been resolved. If applicable, a claims analysis,

explaining why payment on any claim is not being made, is attached as Exhibit C.

7. The Trustee's proposed distribution is attached as Exhibit D.

8. Pursuant to 11 U.S.C. § 326(a), the maximum compensation allowable to the trustee is $2,750.00. To

the extent that additional interest is earned before case closing, the maximum compensation may increase.

The trustee has received $0.00 as interim compensation and now requests the sum of $2,750.00, for a

total compensation of $2,750.002. In addition, the trustee received reimbursement for reasonable and necessary

expenses in the amount of $0.00 and now requests reimbursement for expenses of $0.00 for total expenses of

$0.002.

Pursuant to Fed R Bank P 5009, I hereby certify, under penalty of perjury, that the foregoing report is true

and correct.

Date: By:

Trustee

STATEMENT: This Uniform Form is associated with an open bankruptcy case, therefore, Paperwork Reduction

Act exemption 5 C.F.R. §1320.4(a)(2) applies.

2

If the estate is administratively insolvent, the dollar amounts reflected in this paragraph may be higher than the

amounts listed in the Trustee's Proposed Distribution (Exhibit D)

06/18/2018 /s/ Norman B. Newman

5. Attached as Exhibit B is a cash receipts and disbursements record for each estate bank account.

UST Form 101-7-TFR (5/1/2011)

Case 16-24660 Doc 32 Filed 07/13/18 Entered 07/13/18 11:53:23 Desc Main

 Document Page 2 of 13
Asset Cases

Individual Estate Property Record and Report

Form 1

Page: 1

Case No.:

Claims Bar Date:

Case Name:

For Period Ending:

Trustee Name:

§ 341(a) Meeting Date:

Date Filed (f) or Converted (c):

16-24660

LI, JOHN T.

(330270) Norman B. Newman

08/01/2016 (f)

08/29/2016

06/18/2018

Exhibit A

1

Asset Description

(Scheduled And Unscheduled (u) Property)

Ref. #

2

Petition/

Unscheduled

Values

3

Estimated Net Value

(Value Determined By

Trustee,

Less Liens, Exemptions,

and Other Costs)

4

Property Formally

Abandoned

OA=§554(a)

abandon.

5

Sale/Funds

Received by the

Estate

6

Asset Fully

Administered (FA)/

Gross Value of

Remaining Assets

1 Real Estate - 237 High St., Highwood

Property held thru membership interest in JTL

Properties, LLC

244,000.00 66,400.00 6,666.67 FA

2 Real Estate - 303 Highwood Ave,

Highwood

Property held thru membership interest in JTL

Properties, LLC

225,000.00 31,366.00 6,666.67 FA

3 Real Estate - 226 Evolution Ave,

Highwood

Property held thru membership interest in JTL2

Properties

214,000.00 46,504.00 6,666.66 FA

4 Deposits of money: Checking Account

Glenview Sta

6,000.00 2,000.00 0.00 FA

5 Household Goods & Furniture 500.00 0.00 0.00 FA

6 TV & Electronics 500.00 500.00 0.00 FA

7 Wearing Apparel 650.00 0.00 0.00 FA

8 Prospect Equities Stock 0.00 0.00 0.00 FA

9 Ameritrade Stock -1 share Gopro 900.00 900.00 0.00 FA

10 2003 Lexus GS300. Entire property

value: $3,000.

3,000.00 600.00 0.00 FA

10 Assets Totals (Excluding unknown values) $694,550.00 $148,270.00 $20,000.00 $0.00

Pursuing sale of Debtor's membership interests in two Limited Liability Companies which own 3 parcels of

real estate in Highwood, Illinois.

Initial Projected Date Of Final Report (TFR): 12/31/2017 Current Projected Date Of Final Report (TFR): 12/31/2017

Major Activities Affecting Case Closing:

UST Form 101-7-TFR (5/1/2011)

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 Document Page 3 of 13
Cash Receipts And Disbursements Record

Form 2

Page: 1

Exhibit B

06/18/2018 Blanket Bond (per case limit):

N/A

Norman B. Newman (330270)

Taxpayer ID #:

LI, JOHN T.

Trustee Name:

$5,000,000.00

******5966 Checking Account

Bank Name:

**-***5753

Case No.: 16-24660

Account #:

Separate Bond (if applicable):

Case Name: Rabobank, N.A.

For Period Ending:

7

Uniform

Tran. Code

Trans. Paid To / Received From Description of Transaction

Date

5 6

Check or

Ref. #

1 2 3 4

Disbursement Account Balance

$

Deposit

$

09/19/17 Sale of Membership Interests in

LLC

Teresa M. Li 20,000.00 20,000.00

{1} 1110-000 20,000.00

$6,666.67

{2} 1110-000 20,000.00

$6,666.67

{3} 1110-000 20,000.00

$6,666.66

09/29/17 Bank and Technology Services 10.00

Fee

Rabobank, N.A. 2600-000 19,990.00

10/31/17 Bank and Technology Services 30.66

Fees

Rabobank, N.A. 2600-000 19,959.34

11/30/17 Bank and Technology Services 28.70

Fees

Rabobank, N.A. 2600-000 19,930.64

12/29/17 Bank and Technology Services 27.70

Fees

Rabobank, N.A. 2600-000 19,902.94

01/31/18 Bank and Technology Services 31.48

Fees

Rabobank, N.A. 2600-000 19,871.46

02/14/18 101 International Sureties, Ltd. 016073584; Term: 2/1/8 to 2/1/19 2300-000 4.71 19,866.75

02/28/18 Bank and Technology Services 26.67

Fees

Rabobank, N.A. 2600-000 19,840.08

03/30/18 Bank and Technology Services 28.53

Fees

Rabobank, N.A. 2600-000 19,811.55

04/30/18 Bank and Technology Services 27.54

Fees

Rabobank, N.A. 2600-000 19,784.01

05/14/18 2017 IL-1041-V 776.00

FEIN: 30-6585753

102 Illinois Department of Revenue 2820-000 19,008.01

05/31/18 Bank and Technology Services 30.93

Fees

Rabobank, N.A. 2600-000 18,977.08

Less: Payments to Debtors

20,000.00 1,022.92

20,000.00 1,022.92

NET Receipts / Disbursements

$18,977.08

0.00

Less: Bank Transfers/CDs

Subtotal

0.00 0.00

COLUMN TOTALS

$20,000.00 $1,022.92

true

false

{ } Asset Reference(s) UST Form 101-7-TFR (5/1/2011) ! - transaction has not been cleared

Case 16-24660 Doc 32 Filed 07/13/18 Entered 07/13/18 11:53:23 Desc Main

 Document Page 4 of 13
Exhibit B

Page: 2

Cash Receipts And Disbursements Record

Form 2

Blanket Bond (per case limit):

******5966 Checking Account

Rabobank, N.A.

For Period Ending: 06/18/2018

Norman B. Newman (330270)

LI, JOHN T.

Account #:

16-24660

N/A

Case No.:

Case Name:

Separate Bond (if applicable):

Trustee Name:

$5,000,000.00

Taxpayer ID #: **-***5753

Bank Name:

ACCOUNT

BALANCES

$20,000.00 $1,022.92

TOTAL - ALL ACCOUNTS NET

NET DEPOSITS DISBURSEMENTS

$18,977.08

******5966 Checking Account $20,000.00 $1,022.92 $18,977.08

UST Form 101-7-TFR (5/1/2011)

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Case:16-24660 JOHN T. LI

Claims Bar Date:

Page: 1

Exhibit C

Analysis of Claims Register

Claim

No.

Claimant Name/

<Category>, Priority

Claim Type/

Date Filed Claim Ref Amount Filed/Allowed

Paid

to Date

Claim

Balance

Northbrook Bank & Trust

1100 Waukegan Road

Northbrook, IL 60062

<4110-000 Real Estate - Consensual Liens

(mortgages, deeds of trust)>

, 100

Secured

08/01/16

$0.00

$0.00

$0.00 $0.00

Northbrook Bank & Trust

1100 Waukegan Road

Northbrook, IL 60062

<4110-000 Real Estate - Consensual Liens

(mortgages, deeds of trust)>

, 100

Secured

08/01/16

$0.00

$0.00

$0.00 $0.00

Northbrook Bank & Trust

1100 Waukegan Road

Northbrook, IL 60062

<4110-000 Real Estate - Consensual Liens

(mortgages, deeds of trust)>

, 100

Secured

08/01/16

$0.00

$0.00

$0.00 $0.00

MC MILLER COOPER

1751 LAKE COOK ROAD

SUITE 400

DEERFIELD, IL 60015

<3410-000 Accountant for Trustee Fees

(Other Firm)>

, 100

Administrative

06/18/18

$3,553.00

$3,553.00

$0.00 $3,553.00

MS-E MUCH P.C. SHELIST

191 N. Wacker Drive, Suite 1800

Chicago, IL 60606

<3120-000 Attorney for Trustee Expenses

(Trustee Firm)>

, 300

Administrative

05/16/18

$367.10

$367.10

$0.00 $367.10

MS-F MUCH P.C. SHELIST

191 N. Wacker Drive, Suite 1800

Chicago, IL 60606

<3110-000 Attorney for Trustee Fees (Trustee

Firm)>

, 300

Administrative

05/16/18

$19,814.00

$19,814.10

$0.00 $19,814.10

UST Form 101-7-TFR (5/1/2011)

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 Document Page 6 of 13
Case:16-24660 JOHN T. LI

Claims Bar Date:

Page: 2

Exhibit C

Analysis of Claims Register

Claim

No.

Claimant Name/

<Category>, Priority

Claim Type/

Date Filed Claim Ref Amount Filed/Allowed

Paid

to Date

Claim

Balance

NBN Norman B. Newman

191 N. Wacker Dr.

Suite 1800

Chicago, IL 60606

<2100-000 Trustee Compensation>

, 200

Administrative

10/24/17

$2,750.00

$2,750.00

$0.00 $2,750.00

AMEX

Bankruptcy Department

PO Box 981535

El Paso, TX 79998-1535

<7100-000 Section 726(a)(2) General

Unsecured Claims>

, 610

Unsecured

08/01/16

$0.00

$0.00

$0.00 $0.00

Bk Of Amer

4909 Savarese Cir

Tampa, FL 33634

<7100-000 Section 726(a)(2) General

Unsecured Claims>

, 610

Unsecured

08/01/16

$0.00

$0.00

$0.00 $0.00

Bk Of Amer

4909 Savarese Cir

Tampa, FL 33634

<7100-000 Section 726(a)(2) General

Unsecured Claims>

, 610

Unsecured

08/01/16

$0.00

$0.00

$0.00 $0.00

Chase Auto

Po Box 901003

Ft Worth, TX 76101

<7100-000 Section 726(a)(2) General

Unsecured Claims>

, 610

Unsecured

08/01/16

$0.00

$0.00

$0.00 $0.00

Chase Card

Po Box 15298

Wilmington, DE 19850

<7100-000 Section 726(a)(2) General

Unsecured Claims>

, 610

Unsecured

08/01/16

$0.00

$0.00

$0.00 $0.00

UST Form 101-7-TFR (5/1/2011)

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 Document Page 7 of 13
Case:16-24660 JOHN T. LI

Claims Bar Date:

Page: 3

Exhibit C

Analysis of Claims Register

Claim

No.

Claimant Name/

<Category>, Priority

Claim Type/

Date Filed Claim Ref Amount Filed/Allowed

Paid

to Date

Claim

Balance

Chasecard

Bankruptcy Department

PO Box 15298

Wilmington, DE 19850

<7100-000 Section 726(a)(2) General

Unsecured Claims>

, 610

Unsecured

08/01/16

$0.00

$0.00

$0.00 $0.00

Chicago Cosmetic Surgery & Dermatol

20 W Kinzie St

Suite 1130

Chicago, IL 60654

<7100-000 Section 726(a)(2) General

Unsecured Claims>

, 610

Unsecured

08/01/16

$0.00

$0.00

$0.00 $0.00

Citi

Attn: Bankruptcy Department

PO Box 6241

Sioux Falls, SD 57717

<7100-000 Section 726(a)(2) General

Unsecured Claims>

, 610

Unsecured

08/01/16

$0.00

$0.00

$0.00 $0.00

Commonwealth Edison

Bankruptcy Department

2100 Swift Drive

Oak Brook, IL 60523-1559

<7100-000 Section 726(a)(2) General

Unsecured Claims>

, 610

Unsecured

08/01/16

$0.00

$0.00

$0.00 $0.00

DK Condo, A Draper & Kramer Company

55 E Monroe Street

39th Floor

Chicago, IL 60603

<7100-000 Section 726(a)(2) General

Unsecured Claims>

, 610

Unsecured

08/01/16

$0.00

$0.00

$0.00 $0.00

Glenbrook Pediatrics SC

2551 Compass Road

Suite 100

Glenview, IL 60026-8042

<7100-000 Section 726(a)(2) General

Unsecured Claims>

, 610

Unsecured

08/01/16

$0.00

$0.00

$0.00 $0.00

UST Form 101-7-TFR (5/1/2011)

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 Document Page 8 of 13
Case:16-24660 JOHN T. LI

Claims Bar Date:

Page: 4

Exhibit C

Analysis of Claims Register

Claim

No.

Claimant Name/

<Category>, Priority

Claim Type/

Date Filed Claim Ref Amount Filed/Allowed

Paid

to Date

Claim

Balance

II Bone & Joine Institute

1275 E Belvidere Road

Suite 150

Grayslake, IL 60030-2083

<7100-000 Section 726(a)(2) General

Unsecured Claims>

, 610

Unsecured

08/01/16

$0.00

$0.00

$0.00 $0.00

JP Morgan Chae Bank NA

1111 Polaris parkway

Columbus, OH 43240-2031

<7100-000 Section 726(a)(2) General

Unsecured Claims>

, 610

Unsecured

08/01/16

$0.00

$0.00

$0.00 $0.00

M3 Financial Services

10330 W. Roosevelt Road S-2

Westchester, IL 60154

<7100-000 Section 726(a)(2) General

Unsecured Claims>

, 610

Unsecured

08/01/16

$0.00

$0.00

$0.00 $0.00

Nationstar Mortgage LI

350 Highland Dr

Lewisville, TX 75067

<7100-000 Section 726(a)(2) General

Unsecured Claims>

, 610

Unsecured

08/01/16

$0.00

$0.00

$0.00 $0.00

Northern Trust Bank

Attn: Christi Seitz

50 S. LaSalle Street

Chicago, IL 60675

<7100-000 Section 726(a)(2) General

Unsecured Claims>

, 610

Unsecured

08/01/16

$0.00

$0.00

$0.00 $0.00

Northshore Univ Health System

100 South Owasso Blvd W

Saint Paul, MN 55117

<7100-000 Section 726(a)(2) General

Unsecured Claims>

, 610

Unsecured

08/01/16

$0.00

$0.00

$0.00 $0.00

UST Form 101-7-TFR (5/1/2011)

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 Document Page 9 of 13
Case:16-24660 JOHN T. LI

Claims Bar Date:

Page: 5

Exhibit C

Analysis of Claims Register

Claim

No.

Claimant Name/

<Category>, Priority

Claim Type/

Date Filed Claim Ref Amount Filed/Allowed

Paid

to Date

Claim

Balance

Quest Diagnostics

Attn: Patient Billing

1355 Mittl Boulevard

Wood Dale, IL 60191-1024

<7100-000 Section 726(a)(2) General

Unsecured Claims>

, 610

Unsecured

08/01/16

$0.00

$0.00

$0.00 $0.00

RCS

PO Box 7229

Westchester, IL 60154

<7100-000 Section 726(a)(2) General

Unsecured Claims>

, 610

Unsecured

08/01/16

$0.00

$0.00

$0.00 $0.00

Toyota Motor Credit Co

1111 W 22nd St Ste 420

Oak Brook, IL 60523

<7100-000 Section 726(a)(2) General

Unsecured Claims>

, 610

Unsecured

08/01/16

$0.00

$0.00

$0.00 $0.00

1 Toyota Motor Credit Corporationc/o Becket

and Lee LLP,

<7100-000 Section 726(a)(2) General

Unsecured Claims>

, 300

Unsecured

10/26/17

$22,739.39

$22,739.39

$0.00 $22,739.39

Correspondence dated 1/3/18 agreeing to unsecured claim.

2 American Express Centurion Bankc/o Becket

and Lee LLP,

<7100-000 Section 726(a)(2) General

Unsecured Claims>

, 300

Unsecured

11/30/17

$21,500.48

$21,500.48

$0.00 $21,500.48

Allowing a 5% distribution.

Case Total: $0.00 $70,724.07

UST Form 101-7-TFR (5/1/2011)

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 Document Page 10 of 13
Case Name: JOHN T. LI

TRUSTEE'S PROPOSED DISTRIBUTION

Case No.: 16-24660

Balance on hand: $ 18,977.08

Exhibit D

Trustee Name: Norman B. Newman

Claims of secured creditors will be paid as follows:

Claim

No.

Claimant Claim

Asserted

Allowed

Amount

of Claim

Interim

Payments

to Date

Proposed

Payment

None

Remaining balance:

Total to be paid to secured creditors:

18,977.08

0.00

$

$

Applications for chapter 7 fees and administrative expenses have been filed as follows:

Reason/Applicant Total

Requested

Interim

Payments

to Date

Proposed

Payment

Trustee, Fees - Norman B. Newman 2,750.00 0.00 2,750.00

Attorney for Trustee Fees - MUCH P.C. SHELIST 19,814.10 0.00 10,094.99

Attorney for Trustee, Expenses - MUCH P.C. SHELIST 367.10 0.00 367.10

Accountant for Trustee Fees (Other Firm) - MILLER COOPER 3,553.00 0.00 3,553.00

Total to be paid for chapter 7 administrative expenses:

Remaining balance: 2,211.99

16,765.09

$

$

Applications for prior chapter fees and administrative expenses have been filed as follows:

Reason/Applicant Total

Requested

Interim

Payments

Proposed

Payment

None

Remaining balance:

Total to be paid for prior chapter administrative expenses:

2,211.99

0.00

$

$

UST Form 101-7-TFR(5/1/2011)

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 Document Page 11 of 13
Allowed priority claims are:

In addition to the expenses of administration listed above as may be allowed by the Court,

priority claims totaling $0.00 must be paid in advance of any dividend to general (unsecured) creditors.

Claim

No.

Claimant Allowed Amount

of Claim

Interim Payments

to Date

Proposed

Payment

None

Total to be paid for priority claims:

Remaining balance: 2,211.99

0.00

$

$

The actual distribution to wage claimants included above, if any, will be the proposed payment

less applicable withholding taxes (which will be remitted to the appropriate taxing authorities).

Timely claims of general (unsecured) creditors totaling $44,239.87 have been allowed and will

be paid pro rata only after all allowed administrative and priority claims have been paid in full. The

timely allowed general (unsecured) dividend is anticipated to be 5.0 percent, plus interest (if

applicable).

Timely allowed general (unsecured) claims are as follows:

Claim

No.

Claimant Allowed Amount

of Claim

Interim Payments

to Date

Proposed

Payment

1 Toyota Motor Credit

Corporationc/o Becket and Lee

LLP

22,739.39 0.00 1,136.97

2 American Express Centurion

Bankc/o Becket and Lee LLP

21,500.48 0.00 1,075.02

Remaining balance:

Total to be paid for timely general unsecured claims: 2,211.99

$ 0.00

$

Tardily filed claims of general (unsecured) creditors totaling $0.00 have been allowed and will be

paid pro rata only after all allowed administrative, priority and timely filed general (unsecured) claims

have been paid in full. The tardily filed claim dividend is anticipated to be 0.0 percent, plus interest (if

applicable).

Tardily filed general (unsecured) claims are as follows:

Claim

No.

Claimant Allowed Amount

of Claim

Interim Payments

to Date

Proposed

Payment

None

Remaining balance:

Total to be paid for tardily filed general unsecured claims: 0.00

$ 0.00

$

UST Form 101-7-TFR(5/1/2011)

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 Document Page 12 of 13
Subordinated unsecured claims for fines, penalties, forfeitures, or damages and claims ordered

subordinated by the Court totaling $0.00 have been allowed and will be paid pro rata only after all

allowed administrative, priority and general (unsecured) claims have been paid in full. The dividend for

subordinated unsecured claims is anticipated to be 0.0 percent, plus interest (if applicable).

Subordinated unsecured claims for fines, penalties, forfeitures or damages and claims ordered

subordinated by the Court are as follows:

Claim

No.

Claimant Allowed Amount

of Claim

Interim Payments

to Date

Proposed

Payment

None

Remaining balance:

Total to be paid for subordinated claims:

0.00

0.00

$

$

UST Form 101-7-TFR(5/1/2011)

Case 16-24660 Doc 32 Filed 07/13/18 Entered 07/13/18 11:53:23 Desc Main

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